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Goldman Sachs (GS) Stock Gains Despite $36.3 Mln Fine

NEW YORK (TheStreet) -- Shares of Goldman Sachs (GS) were advancing in late-morning trading on Wednesday even though the Federal Reserve ordered the New York City-based bank to pay $36.3 million regarding allegations that former employees obtained confidential information from the agency.

The Fed is also seeking to impose a fine and permanent banking ban against the bank's former managing director Joseph Jiampietro due to his unapproved use and disclosure of agency secrets.

Goldman Sachs allegedly used confidential information in...